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Back in June, Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR), Qlt Inc. and the latter’s subsidiary, Isotope Acquisition Corp., entered into an Agreement and Plan of Merger which would merge Aegerion Pharmaceuticals and Isotope Acquisition into one company, with the resulting company becoming an indirect subsidiary of QLT (which is scheduled to change its name to Novelion Therapeutics Inc). Soon after the finalization of the merger, and pursuant to the conditions of the Merger Agreement, Novelion shall add one person to its Board of Directors, as proposed by Aegerion Pharmaceuticals (NASDAQ:AEGR).

A newly-amended 13D filing with the SEC revealed that Kevin Kotler of Broadfin Capital will become a Director of Novelion upon the finalization of the Merger. The filing also showed that Broadfin Capital has raised its stake in Aegerion Pharmaceuticals (NASDAQ:AEGR) to 4.29 million shares, which represent 14.52% of the company’s outstanding stock. Previously, the fund held 4.01 million shares, as per its 13F filing for the reporting period of June 30.

As its name suggests, Aegerion Pharmaceuticals is a biopharmaceutical company that works on discovering and producing various therapeutics to help patients who suffer from rare illnesses. Year-to-date, the company’s stock is down by 82.48%. In its financial report for the June quarter, Aegerion Pharmaceuticals disclosed a loss per share of $0.72, worse than the estimates of a loss per share of $0.60, and revenue of $44.5 million, topping the estimates of $35.5 million.

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Out of the 749 hedge funds tracked by Insider Monkey which filed 13Fs for the June quarter, 13 were bullish on Aegerion Pharmaceuticals (NASDAQ:AEGR), down by one investor from the previous filing period. Among the investors who reported long positions in the company were Ken Griffin’s Citadel Investment Group, which held a position in bonds worth around $4.51 million, Andy Redleaf’s Whitebox Advisors, with a position valued at $2.23 million, Jim Simons’ Renaissance Technologies, and Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital.

Some of the investors who dumped Aegerion Pharmaceuticals (NASDAQ:AEGR) during the June quarter were Andre F. Perold’s HighVista Strategies, which dropped its position valued at $936,000 at the end of March, Dmitry Balyasny’s Balyasny Asset Management, which said goodbye to $141,000 worth of Aegerion Pharmcatucals’ shares, and Matthew Tewksbury’s Stevens Capital Management.

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13d-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box [ ].

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).